ProShare Advisors LLC Sells 68,942 Shares of Bank of Marin Bancorp (NASDAQ:BMRC)

ProShare Advisors LLC reduced its position in Bank of Marin Bancorp (NASDAQ:BMRC) by 15.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 381,020 shares of the bank’s stock after selling 68,942 shares during the period. ProShare Advisors LLC owned 2.34% of Bank of Marin Bancorp worth $6,169,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC raised its position in shares of Bank of Marin Bancorp by 129.2% in the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the period. Riverview Trust Co lifted its position in shares of Bank of Marin Bancorp by 105.5% during the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock worth $32,000 after acquiring an additional 1,001 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Bank of Marin Bancorp by 348.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after acquiring an additional 1,832 shares during the period. XTX Topco Ltd purchased a new position in shares of Bank of Marin Bancorp in the second quarter valued at $168,000. Finally, Bridge City Capital LLC raised its stake in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock valued at $193,000 after purchasing an additional 1,747 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Stock Down 2.1 %

Shares of NASDAQ BMRC opened at $19.59 on Thursday. The stock’s 50-day simple moving average is $20.11 and its two-hundred day simple moving average is $17.35. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24. The firm has a market capitalization of $318.93 million, a P/E ratio of 23.60 and a beta of 0.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, July 29th. The bank reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The company had revenue of $37.12 million during the quarter, compared to analysts’ expectations of $25.85 million. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, research analysts anticipate that Bank of Marin Bancorp will post 0.47 EPS for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 5.10%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stephens restated an “equal weight” rating and issued a $16.00 target price on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st.

Bank of Marin Bancorp Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.